Byju Raveendran, the founder of Indian technology firm Byju’s, has been sentenced to six months in jail by a Singapore court for contempt, Bloomberg reported on Wednesday, May 27. Byju Raveendran has not just been asked to serve six months in jail, but also instructed to pay $70,500 or ₹67,45,940. Giving the verdict, the court also said that Raveendran had disobeyed multiple orders related to his assets dating back to April 2024.
He has been instructed to surrender himself to officials, and provide documents proving his legal ownership of Beeaar Investco Pte, a corporate entity that held shares in a related company.
The threat of jail time is the latest blow to a founder who is now facing claims from foreign investors around the world, including in the US where lenders are fighting to claw back losses from a $1.2 billion loan that soured.
The ruling marks another major setback for the once high-flying edtech entrepreneur, whose company has been battling mounting financial stress, governance concerns and legal disputes across several jurisdictions. Byju’s, once valued at around $22 billion, has seen its fortunes collapse amid cash flow issues, delayed financial filings, investor exits and creditor battles.
Global lenders and investors have also initiated recovery proceedings linked to the company’s troubled $1.2 billion term loan, which triggered a series of legal battles in the United States and other markets. The company has faced scrutiny over alleged fund diversion, corporate governance lapses and missed payment obligations.
According to sources, Raveendran didn't immediately respond to a request for comment. It's unclear whether he is in Singapore or elsewhere.
He is now being pursued in Singapore's court system by a subsidiary of sovereign wealth fund Qatar Investment Authority, which participated in a funding round for the tech firm as it was cutting jobs and laying off staff.
